Both parties have recently submitted the updated costs and loss estimates to the International Chamber of Commerce (ICC) arbitration proceedings.
The updated quantification submitted by Areva-Siemens on Friday totalled 3.5 billion euros. The sum includes over 1.3 billion euros in penalty interests calculated until October this year, payments allegedly delayed by TVO under the plant contract as well as approximately 150 million euros of alleged lost profit, said TVO.
TVO’s estimate of its costs and losses related to the arbitration proceedings is approximately 2.3 billion euros until the end of 2018.
TVO said it has previously considered the claims upon which the amounts demanded are based and found them to be of no merit.
